This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

EU Signals Could OK Oracle Deal With No Sell-off

AOIFE WHITE

BRUSSELS (AP) ¿ European Union regulators looked closer to approving Oracle Corp.'s takeover of Sun Microsystems Inc. when they said Monday that the company's stated commitment to open-source database software was "an important new element."

The European Commission is holding up the $7.4 billion (euro5.05 billion) deal over worries that Oracle would gain too much control over the database software market if it takes over Sun's open-source-based MySQL, which the EU claims poses a threat to Oracle's own database programs.

Oracle moved to soothe those fears Monday, promising it would invest heavily in MySQL and maintain both licenses and the sharing of interface information with developers so that they could continue to make products compatible with MySQL.

Sun's shares rose 9 percent to $9.11 on the U.S. NASDAQ exchange, while Oracle shares traded up 2.3 percent at $23.30 on increased optimism the deal will go through.

European regulators have a Jan. 27 deadline to decide whether to approve the takeover or block it. They earlier said they were concerned that Oracle could refuse to license MySQL to some companies or for some uses to favor its own software ¿ which could limit customer choice and ultimately hike prices. Sun paid $1 billion for MySQL last year.

Companies often soothe antitrust worries by selling off units or making binding promises to change the way they operate to avoid anticompetitive damage to rivals or customers. EU spokesman Jonathan Todd said Oracle had not so far formally offered any such changes to the deal.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG
HPQ $32.50 0.00%
ORCL $43.26 0.00%
AAPL $125.01 0.00%
FB $78.10 0.00%
GOOG $524.22 0.00%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs